Real Estate License Lagos Nigeria - Free Property License Tips

Real estate license Lagos Nigeria - Real estate license or property license is required to practice real estate in advanced countries of the world. That should be the case in Nigeria. Unfortunately, Nigeria is a third world economy and most people are barely able to eat three square meals per day.

Consequently, many of the rules that apply in real estate worldwide and in many other facets of society does not apply in Nigeria. That is not because Nigerians are lawless people. It is simply a function of our level of economic and social development . . . it is where we currently are in the scheme of things.

When a real estate practitioner has a real estate license or property license, it is an indication that the individual or corporate organization has undertaken the required formal training to function as a real estate consultant or consulting firm.

This requirement ensures that only professionals are allowed to practice the discipline and that quacks are banished from doing so.

There are advantages to this. The very obvious ones are . . .

1. Potential buyers or tenants get professional advice from professionally trained individuals or organizations

2. The industry is appropriately regulated

3. Ethical standards of practice are followed

4. Potential investors get the best advice possible

5. Risk of losses are minimized and so

6. The economy grows

The Nigerian authorities recognize the value of a professionally regulated practice. That is why virtually all kinds of industry are regulated in Nigeria.

For example . . .

  • doctors require a license to practice in Nigeria
  • chartered accountants are certified by ICAN (Institute of Chartered Accountants of Nigeria) before they can practice in Nigeria
  • Real estate attorneys or lawyers must pass law exams in law school before they can practice law in Nigeria
  • Engineers are subject to the regulations of COREN and NSE (Nigerian Society of Engineers)
  • Food Technologists are answerable to NIFST (Nigeria Institute of Food Science and Technology)

    I could go on and on about professional bodies and regulatory authorities in Nigeria. That tells you that Nigeria is an organized and lawful country.

    Even real estate and estate surveyor activities are regulated by Nigeria Institute of Estate Surveyors and Valuers (NIESV). So, estate surveyors are required to get estate surveyor license to be able to practice. Even real estate consultants are required to get real estate license to practice.

    However, while the nose of professional practice license or property license has been tight on estate surveyors and other disciplines in Lagos Nigeria, the requirement of property license as a basis to practice has not been enforced strictly in Nigeria.

    As a result, you will find that there are many quacks posing as real estate agents in Lagos Nigeria. Many of these real estate agencies are simply interested in getting you hooked to a property, collecting their real estate commission and moving on to the next client.

    This does not speak well of real estate agents.

    But the good news is that there are many honest real estate agents in Nigeria and working with them can be very refreshing. They know the Lagos Nigeria real estate market and they have a variety of options for you when you contact them for homes for sale or homes for rent.

    A great way to sanitize the Nigeria real estate market is to enforce basic training for real estate agents and then issuance of license to those who have completed the training.

    Thereafter, the government can give practicing property agents an opportunity and a time frame to get the required training and obtain licenses. The possession of property license can then become mandatory after the period of grace expires.

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